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Question

The credit control committee should be headed by which of the following?

A Chairman/CEO/ED Correct Answer Incorrect Answer
B Head of credit department Correct Answer Incorrect Answer
C Chief economist Correct Answer Incorrect Answer
D GM and above ranked official Correct Answer Incorrect Answer
E Treasury Head Correct Answer Incorrect Answer

Solution

Each bank should constitute a high level Credit Policy Committee, also called Credit Risk Management Committee or Credit Control Committee etc. to deal with issues relating to credit policy and procedures and to analyse, manage and control credit risk on a bank wide basis. The Committee should be headed by the Chairman/CEO/ED , and should comprise heads of Credit Department, Treasury, Credit Risk Management Department (CRMD) and the Chief Economist.

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